Yesmadam, an Indian salon-at-home service provider, has received a ₹1.5 crore investment from the investors of Shark Tank India (Season 3) in exchange for a 2% equity stake and a 1x royalty agreement. This investment aims to support the brand’s expansion efforts and empower its women workforce across the country. Yesmadam plans to use the funding to enhance its operational capabilities, adopt AI technologies for service delivery, and increase its workforce, including hiring from marginalized communities.
Key Highlights:
- Received ₹1.5 crore from Shark Tank India for a 2% equity stake.
- Focuses on expansion and adopting AI technologies for improved service delivery.
- Aims to achieve 1 million bookings per month in the next 5 years.
- Over 2.0 million app downloads and a 4.6-star rating on Google Play.
- Empowering over 2500 professionals across 50 cities.
Yesmadam was founded in 2016 by Mayank Arya, Aditya Arya, and Akanksha Vishnoi. The company has shown significant growth, driven by its commitment to quality, convenience, and customer satisfaction. The brand has made substantial inroads into the beauty and wellness industry, providing services in more than 50 cities across India and facilitating over 2 million bookings.
Mayank Arya, Co-founder of Yesmadam, stated, “This funding is a testament of our dedication and our commitment to delivering unparalleled experiences to our customers. With this investment, our aim would be to empower women and partners across India with new employment opportunities. We are also planning to embrace new-age digital solutions and AI-powered algorithms to optimize product recommendations and deliver a seamless experience.”
The investment from Shark Tank India’s panelists, which includes Aman Gupta, Co-Founder & CMO of boAt; Vineeta Singh, CEO of SUGAR Cosmetics; Peyush Bansal, Co-Founder & CEO of Lenskart; and Ritesh Agarwal, Founder & Group CEO of OYO, is expected to drive Yesmadam’s growth further. The company’s focus on leveraging technology and expanding its workforce highlights its commitment to innovation and empowerment in the beauty and wellness sector.
